Strategic Gaming Management completes acquisition of Sunland Park Racetrack & Casino
The company has acquired the venue in New Mexico for $301m.
US.- Strategic Gaming Management (SGM) has announced that it has completed the acquisition of Sunland Park Racetrack & Casino, in New Mexico, for $301m. Following closing, SGM sold the real estate to Gaming and Leisure Properties in a sale-leaseback transaction.
Sunland Park has 738 slots and 12 EGTs in 25,000 square feet of gaming space. The property, which sits on approximately 157 acres, also features a 1-mile Thoroughbred and Quarter Horse track with a 733-seat stadium and hosts the Sunland Park Derby.
J. Grant Lincoln, SGM’s founder and CEO, commented: “With the acquisition of Sunland, we are well on our way to our goal of being a scale operator of regional assets with rich histories, competitive moats, and very strong and loyal customer bases. We will continue to invest in our assets and thoughtfully grow our platform while continuing to pursue opportunities that meet our strategic plans. We welcome the incredible Sunland Park team to the Strategic family and look forward to many years of success together.”
The company has appointed Matthew Flandermeyer, former chief financial officer of Golden Entertainment, as chief financial officer (CFO). He joins SGM from his family business ownership of fast-casual restaurants and taverns. He served as CFO of Golden Entertainment for nine years.
Fred Heinrich, current general counsel and compliance officer, will serve as president of Sunland Park. In his expanded role, he will oversee operations and direct strategic aspects of the business.
Heinrich said: “I am really excited to work with Grant and the wonderful team that exists here at Sunland, as well as the surrounding communities in this new role. I am sure we can do remarkable things together and look forward to the next chapter for this storied property.”
SGM currently operates four properties in Nevada, South Dakota and New Mexico.
MGM Resorts International agrees to sell MGM Northfield Park’s operations
MGM Resorts International recently reached an agreement to sell the operations of MGM Northfield Park in Ohio to private equity funds managed by Clairvest Group. It will receive $546m in cash, subject to customary adjustments.
The deal is expected to close in the first half of 2026, subject to the receipt of regulatory approvals. MGM Growth Properties acquired the Hard Rock Rocksino Northfield Park in 2018. A year later, MGM Resorts acquired the operations from MGP for $275m and rebranded the property as MGM Northfield Park.
